ECHOES FROM THE CAFE.

Waikato Times, Volume XIX, Issue 1610, 28 October 1882, Page 2

ECHOES FROM THE CAFE.

It is very satisfactory to learn by cablegram from London that our Auckland harbour loan of £150,000 has been taken up above par, the amount of subscriptions having been considerably more than twice the amount ot the loan. This proves conclusively the high esteem in which New Zealand securities are held in the London market, and augurs well for the floating of the first million of our new colonial loan. One of the most busiuflftj like of our members expressed to me conviction that the new four per cent, loan would be subscribed at and over pur, and I have not the slightest doubt that his expectations will be realised. English capitalists have learned that New Zealand is a land of boundless resources, provided it is properly governed, and they have no difficulty in ascertaining that thepiesent Ministry is distill* guished for its ability and its integrity. Under these circumstances they will not have the slightest hesitation in lending us as much money as we require, to be spent on permanent and reproductive works, and they will lend us their money at a reasonable rate, which four per cent, is considered in England at present. Lnst Monday evening the Auckland Commercial Club was opened, undermost favorable auspices, by a soiree and meeting of shareholders, presided over by Thomas Peacock, Esq., M.H.R. The primary object of the club is to provide luncheon and other accommodation for its members on the coffee palace principle, in fact it occupies to a large extent, the place which should have been filled by the coffee palace. Warned by the fate of uufc institution, the promoters of the club decided to act on the ad\ ice given u the old Scotch saying, " Ye maun creep befoie ye gang." They did not attempt to erect a palatial building, but took a lease of a suite of rooms suitable for their purpose, their landlord makiug certain necessary alterations "and additions. They have got the largest diningroom in Auckland, with kitchen and otheraccom.m) Ution capable of providing luncheon or dinner for lour or five hundred pet sous daily. In order to provide for the accommodation of country settlers and others visiting Auckland, provision has been made for members taking their friends to the, club, wheie they will be received as honorary membcts. If the institution is as well conducted as it promises to be, it will be the nucleus of one of the most successful coffee palaces ever projected. A great deal has been said and written about the way in which bankruptcy proceedings aie conducted in Auckland, and almost all that has been said and written has been condemnatory of the piesent system. For some yeais past the whole management ot ban rupt estates has been "in the hands ot Mr Thomas Macttarlaue, certificated accountant in baukiuptcy. Whether as the icsult of that management or not, the creditors have, aftur long delays, reeened very sin-ill dividends, if any. Last week Judge Gillies spoke in \eiy stioug terms about the way in which one ebtato had been wound up. Without imputing dishonesty or collusion between the trustee and on 1 2>ai tieular creditor, ho said that it was patent to him that the inti'iests of the nmjoiity of the ci editors had been . eiy much neglected, as one creditor had bought the major poition ot the banki apt's estate on such terms that he had made a very haudsomc profit by the transaction, while the rest of the creditors had received little or nothing. The Chamber of Commerce is to meet on Monday next, to consider the present position ot matteis so far as the Jiankruptey Law is concerned, and it is to be hoped that, as the result of their deliberations, some change will be devised. The Devonshire proverb is, •' Change is good, if it is for the worse," but I do not believe it is possible that a change tor the worse could be made. Mr James McCosh Clark, our present Mayor, has consented to allow himself to be nominated for a third term of office, and I have little doubt that he will be re-elected without opposition. When I say v ithout opposition I mean without anyone contesting the election with him. Opposition there undoubtedly is, especially among those who object to the CD. Act being bi ought into force here. In a long letter to the Herald, which appeared in Wednesday's issue, Dr. Wallis givea tour reasons why, in his opinion, Mr Clarks consenting to staud for the office of Mayor a third time "is not only amistake, but is likely to become a public misfortune." These are briefly (I) that it would tend to make the office of Mayor a monopoly ; (2) that Mr Clark has not been (as stated) either the originator or chief promoter of the enlargement of the city boundaries ; (3) that he has bribed the citizens by giving his mayoral salary towards the JiYee Public Library, and by promising to gi\ c £500 towards founding a School of Ai ts ; and ( t) that he has snubbed Dr. Wallis and the other objectors to the introduction of the C.D. Act. It is not necessary to refer to any of Dr. Wallis's objections excex^t'thu last, for that is the teal objection, and I think that his action in that matter is a very good reason why Mr Clark should be re-elected. He knew that his action would make him uapopular with a large section of the community, but, believing he was doing what was for the benefit of the people of Auckland, he did not hesitate to snub Dr Wallis and his coadjutors. However it is very easy for Dr. Wallis to ascertajjjh whether public opinion is in his favor, or whether it supports Mr Clark. Let him bring forward a candidate for the mayoralty, and the burgesses will decide the question at the ballot-box. Before laying down my pen for this \reek, I would ask all the good folks of Waikato, \\ ho come to town for the Cattle Show' on November 9th, to attend the concert to be given on the evening of that day in the Choral Hall, for the benefit of the Young Women's Institute. If they do so, they .will spend a most pleasant evening, as Hen* Schmitt and some of our local amateurs are to take part in the concert, and assist one of our most valuable charitable institutions. St. Mokuo.

An entertainment tf ill be given in the Wcsleyan Church, Cambridge West, on Tuesday, October 31st., consisting 1 of service of song, " voyage, qf£ifj,"' recitations, polos, &c-, &c. The proceeds will go in aid of the Sunday school. Attention is directed to the interesting tlvcrtiseine-U of, Messrs Neil and CliflGord. herbatHs "A-icklahd, wuich will bo found in another column,